Park National Co. (NYSE:PRK) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its position in Park National Co. (NYSE:PRK) by 35.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,522 shares of the company’s stock after selling 836 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Park National were worth $256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. nVerses Capital LLC purchased a new stake in shares of Park National during the 2nd quarter valued at about $85,000. MFA Wealth Advisors LLC purchased a new stake in shares of Park National during the 2nd quarter valued at about $121,000. Contravisory Investment Management Inc. purchased a new stake in shares of Park National during the 3rd quarter valued at about $227,000. Algert Global LLC purchased a new stake in shares of Park National during the 2nd quarter valued at about $231,000. Finally, SG Americas Securities LLC raised its holdings in shares of Park National by 56.1% during the 1st quarter. SG Americas Securities LLC now owns 1,789 shares of the company’s stock valued at $243,000 after buying an additional 643 shares during the period. 62.65% of the stock is owned by institutional investors and hedge funds.

Park National Stock Performance

Shares of NYSE PRK opened at $197.91 on Tuesday. The business’s 50-day moving average price is $171.40 and its two-hundred day moving average price is $157.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.94. Park National Co. has a one year low of $103.26 and a one year high of $207.51. The company has a market capitalization of $3.20 billion, a P/E ratio of 23.39 and a beta of 0.70.

Park National Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.00 dividend on an annualized basis and a yield of 1.01%. Park National’s payout ratio is 50.18%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Park National from a “hold” rating to a “sell” rating in a research report on Friday, August 23rd.

Park National Company Profile

Park National Corporation operates as the bank holding company for Park National Bank that provides commercial banking and trust services in small and medium population areas. The company offers deposits for demand, savings, and time accounts; trust and wealth management services; cash management services; safe deposit operations; electronic funds transfers; Internet and mobile banking solutions with bill pay service; credit cards; and various additional banking-related services.